Interest rates are expected to fall in 2025. If you’re a homeowner, it could present an opportunity to reduce your mortgage repayments and boost your finances overall.

The Bank of England (BoE) increased the base interest rate when inflation was high as a way to slow down the rising cost of goods and services. Between December 2021 and August 2023, the central bank’s interest rate increased from 0.1% to 5.25%.

For savers, this news is likely to have been welcomed, as the interest rate they received on their savings typically increased. H...

Political instability in Europe and further afield affected investment markets in December. Read on to find out what other factors may have influenced your investment returns at the end of 2024.

Remember to focus on your long-term goals when assessing the performance of your investments. The value of your assets rising and falling is part of investing. What’s important is that the risk profile is appropriate for you and that your decisions align with your circumstances and aspirations. 

UK

Hopes that the Bank of England (BoE) would cut ...

Using allowances and exemptions could reduce your overall tax bill and help you get more out of your money. On 5 April 2025, the current tax year will end, and many tax-efficient allowances and exemptions will reset. So, here are five that you may want to consider using before the 2025/26 tax year starts. 

1. ISA allowance

ISAs provide a popular way to tax-efficiently save and invest. Indeed, the latest government figures show in 2022/23, 12.4 million ISAs were subscribed to with around £71.6 billion being collectively added to accounts....

While the saying might be “money can’t buy happiness”, research suggests that financial stability certainly plays a role in your overall wellbeing. In retirement, when you’re no longer earning a salary, finding a way to create financial stability could be a vital part of building a lifestyle that allows you to enjoy the next stage of your life.

Legal & General and the Happiness Research Institute carried out a study to uncover what makes people happiest in retirement. 

The happiest respondents enjoyed good health and satisfying close rel...

While you might have similar goals or circumstances to other people, a financial plan isn’t a one-size-fits-all solution. Instead, a tailored financial plan that considers your needs and goals could help you get far more out of it. 

For instance, one goal might be to ensure you’re financially secure in retirement. It’s likely to be something many other people are working towards too, but that doesn’t mean your retirement goals are the same. There could be many differences, which may affect how much you need to save. For example:

• What a...

Almost four months after Labour won the general election, chancellor Rachel Reeves has delivered her 2024 Autumn Budget, outlining the government’s plans for this tax year and beyond.

Arguing that the July general election had given Labour a “mandate to restore stability and start a decade of renewal”, Reeves described it as “a Budget to fix the foundations and deliver change”.

Against a backdrop of a manifesto pledge not to increase Income Tax, employee National Insurance, or VAT, Reeves also announced that her Budget would raise taxes by...

How would your family cope financially if you passed away? It may be a difficult question to consider, but it could also be an important one. Understanding the challenges your family could face may mean you’re able to identify steps to protect them, including taking out financial protection if appropriate. 

Financial protection is a type of insurance that would pay out when certain conditions are met to provide a financial safety net when the unexpected happens.

If you’re considering how to provide for your family should the worst happen...

Economic data suggesting some developed countries, including the US, could fall into a recession continued to affect investment markets in September 2024. Read on to discover other factors that may have affected the performance of your investments.  

UK

Data from the Office for National Statistics (ONS) shows inflation remained stable at 2.2% in the 12 months to August. The figure is slightly above the Bank of England’s (BoE) 2% target.

Despite speculation that inflation data would lead to the BoE cutting interest rates, the Bank opted ...

High inflation has been a hot topic over the last couple of years, and as its pace stabilises, you might think it no longer needs to be part of your financial plan. Yet, skipping inflation when calculating your long-term finances could leave you with a shortfall. 

The government sets the Bank of England (BoE) a target of keeping inflation at 2%. 

The BoE explains that inflation that is too high or moves around a lot makes it hard for businesses to set the right prices and for people to plan their spending. However, inflation that is too ...